From Mr Timothy Phillips.

Sir, Lombard’s comment (November 12) that “it would be tragic if a cogent defence of Cadbury ... was undermined by traditional fund managers selling out in order to pad their end-of-year returns” is an understatement!

The Quakers & Business Group is naturally taking a close interest in the future ownership of Cadbury. While Quakers are proud of Cadbury’s heritage, it is what the company is doing today and planning for tomorrow that excites us most. The current standalone Cadbury would seem to be making a success of combining shareholders’ and other stakeholders’ needs in meeting tough economic, social and environmental objectives in both the short and long term.

Cadbury’s recent strong third-quarter results, achieved despite the high trading levels of cocoa and sugar, demonstrates a management team acutely aware of delivering shareholder value. The “performance driven and values led” culture has, in recent years, seen the establishment of the Cadbury Cocoa Partnership, the Purple goes Green commitment to climate change and most recently the move into Fairtrade certification for Cadbury’s Dairy Milk. These initiatives are not about getting an ethical “badge” but securing Cadbury’s supply chain on a sustainable basis and in a principled way.

George Cadbury founded the business in 1824 to make an economic return but to do so in a principled manner. Early 19th century philanthropy became 20th century corporate and social responsibility and now has become 21st century sustainable development. In a global business environment, where in recent times some sectors and companies have failed to show their economic and social value to society, Cadbury has demonstrated a successful and sustainable business model. We hope it will be allowed to continue to do so.

Timothy Phillips,
Clerk,
Quaker & Business,
Bristol, UK